This proposed transaction aims at building a long-term, mutually
beneficial relationship between the two companies as strategic partners
in the semiconductor production business. With today’s Memorandum of
Understanding as the basis, the two companies plan to negotiate a final
agreement and to complete the transfer in early June 2013. As the
definitive terms of the proposed transaction including the transfer
method are currently being negotiated, they are omitted from this press
release. They will be announced when definitive agreements are completed.

1. Background and Purpose of the TransferAs
announced on July 3, 2012, in “Renesas Electronics Announces the
Direction of Various Measures to Establish Robust and Profitable
Structure,” Renesas is proceeding with the restructuring of Renesas
Group production facilities in Japan in order to strengthen its revenue
base. As part of this process, under a production strategy in which the
back-end facilities in Japan specialize in production of high-value
added products with increasing outsourcing ratio as well as production
ratio at Renesas overseas sites as a result, the Yonezawa Factory of
Renesas Northern Japan and the Oita Factory of Renesas Semiconductor
Kyushu Yamaguchi Co., Ltd. were to be maintained and strengthened, and
the Hakodate Factory of Renesas Northern Japan, the Fukui Factory of
SKS, and the Kumamoto Factory of Renesas Kyushu (the Hakodate Factory,
Fukui Factory, and Kumamoto Factory are referred to collectively below
as “the facilities to be transferred”) were to be “considered for
transfer within one year” in a process of selection and focus of
business operations. Accordingly, Renesas began looking for a transfer
assignee with whom it could expect to build a long-term partnership that
would strengthen the competitiveness of the facilities to be transferred
and provide a high-quality, reliable supply of products.

As Japan's largest independent company devoted to semiconductor assembly
and test operations for customers, J-Devices understands that, to
further grow its business, it must be cost-competitive with business
rivals based outside of Japan. To that end, J-Devices believes it is of
the utmost importance to expand the scale of its operations.

Against this background, Renesas and J-Devices came to a common
understanding, and as the first step in the building of a long-term
partnership between the two companies, a Memorandum of Understanding was
reached today to transfer the semiconductor back-end production business
of the facilities to be transferred and also Hokkai Electronics, which
performs production support operations for the Hakodate Factory, to
J-Devices by early June of this year.

The current employees of the transferred facilities will be “on loan” to
J-Devices for a set period, under the premise that they will be
reassigned to J-Devices on the basis of individual agreements in future.
The Renesas products which will be manufactured at the facilities to be
transferred will continue to be supplied by Renesas to customers with
the quality, delivery schedules, service equal to or better than before
even after the transfer.

In addition to the current seven facilities of J-Devices (Usuki, Oita
Prefecture (Headquarters); Kitsuki, Oita Prefecture (Headquarters
functions); Shibata-gun, Miyagi Prefecture; Aizuwakamatsu, Fukushima
Prefecture; Miyawaka, Fukuoka Prefecture; Oita, Oita Prefecture; and
Satsumasendai, Kagoshima Prefecture), the present transfer will add an
additional three production facilities. This will make J-Devices one of
the world’s top five OSAT (Outsourced Semiconductor Assembly and Test)
service providers.

At the same time, the advantages gained as a long-term strategic partner
of Renesas, including larger business scale, fusion of technical
capabilities, and expanded product lineup, will enable J-Devices to
improve cost competitiveness, technical capabilities, and product
quality, allowing it to contribute to the continued development of the
semiconductor industry as a world-top-level OSAT service provider and
also providing substantial benefits for customers.

There is no capital relationship between Renesas Electronics and
J-Devices required to be referred to herein. There is no capital
relationship between affiliates of Renesas Electronics and J-Devices
required to be referred to herein.

Personnel Relationships

There is no personnel relationship between Renesas Electronics and
J-Devices required to be referred to herein. There is no personnel
relationship between affiliates of Renesas Electronics and J-Devices
required to be referred to herein.

Business Relationships

There is transaction related to outsourcing of semiconductor
manufacturing from Renesas Electronics to J-Devices.

There is no business relationship between affiliates of Renesas
Electronics and J-Devices required to be referred to herein.

Status of Related Parties

Renesas Electronics is not deemed to be a related party of
J-Devices. Affiliates of Renesas Electronics are not deemed to be a
related party of affiliates of J-Devices.

There is no capital relationship between J-Devices and Renesas
Electronics required to be referred to herein. There is no capital
relationship between affiliates of J-Devices and Renesas Electronics
required to be referred to herein.

Personnel Relationships

There is no personnel relationship between J-Devices and Renesas
Electronics required to be referred to herein. There is no personnel
relationship between affiliates of J-Devices and Renesas Electronics
required to be referred to herein.

Business Relationships

There is transaction related to outsourcing of semiconductor
manufacturing from J-Devices to Renesas Electronics.

There is no business relationship between affiliates of J-Devices
and Renesas Electronics required to be referred to herein.

Status of Related Parties

J-Devices is not deemed to be a related party of Renesas
Electronics. Affiliates of J-Devices are not deemed to be a related
party of affiliates of Renesas Electronics.

The effect of the transfer on the consolidated financial performance
of Renesas is not yet clear, and an announcement will be made as
soon as it is determined.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world's number one
supplier of microcontrollers, is a premiere supplier of advanced
semiconductor solutions including microcontrollers, SoC solutions and a
broad-range of analog and power devices. Business operations began as
Renesas Electronics in April 2010 through the integration of NEC
Electronics Corporation (TSE: 6723) and Renesas Technology Corp., with
operations spanning research, development, design and manufacturing for
a wide range of applications. Headquartered in Japan, Renesas
Electronics has subsidiaries in 20 countries worldwide. More information
can be found at www.renesas.com.

About J-Devices Corporation

J-Devices is the largest independent semiconductor assembly and test
company in Japan with seven factories in Japan. The original company
(named Nakaya Microdevices) was established in 1970 and offers a broad
lineup of packages including thermally enhanced BGA, CMOS sensor,
leadframe and other original packages. J-Devices offers skilled package
development as well as the full turnkey "one stop" service such as wafer
sort, assembly, and final testing for consumer and automotive product.

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